Foreign nationals are fully permitted to own a Sky Villa at Casa Luna Phu My Hung under the current provisions of the 2023 Law on Housing, with a maximum ownership term of 50 years and the right to apply for an extension after that period ends. This is an important legal answer sought by many international professionals, foreign investors in Southeast Asia and overseas Vietnamese communities before deciding to transact in this ultra-luxury development by Phu My Hung.
However, permission to purchase does not mean that there are no accompanying conditions. To legally and sustainably own an apartment at Casa Luna, foreign buyers must satisfy 3 core groups of legal conditions: valid entry status in Vietnam, not being entitled to diplomatic privileges, and remaining within the quota of apartments that foreign nationals may own in the development. In addition, the legal documents must be notarised and translated in accordance with the applicable regulations, which Phu My Hung’s official real estate sales centre always supports international clients with.
One specific regulation that foreign investors must understand first is the 30% quota of the total number of apartments: this is the maximum proportion that foreign nationals may own in any apartment building in Vietnam. As Casa Luna has only 49 unique Sky Villas, a maximum of 14 units may be allocated to international investors, creating dual scarcity through both the limited total number of units in the development and the foreign-ownership quota.
The article below provides a comprehensive analysis of each legal condition, how the 30% quota is calculated in practice at Casa Luna, and a detailed comparison of ownership rights between foreign nationals and Vietnamese citizens, providing a solid information base for international investors to make the most informed and confident decision.
Are Foreign Nationals Permitted to Buy a Casa Luna Sky Villa in Phu My Hung?
Yes, foreign nationals are permitted to buy and own a Casa Luna Sky Villa in Phu My Hung for 3 fundamental legal reasons: the development is a commercial housing project developed by a domestic enterprise, allowing foreign nationals to participate in purchases; the 2023 Law on Housing permits foreign individuals who have legally entered Vietnam to own apartments; and the developer, Phu My Hung Development Corporation, has completed all legal requirements for selling to foreign nationals in accordance with current regulations.
More specifically, understanding this legal basis requires an analysis of the legislation directly applicable. Under Articles 7 and 8 of the 2023 Law on Housing, which came into force on 01/01/2025, the 2 groups of foreign persons recognised as having ownership rights in housing in Vietnam are foreign individuals who have legally entered Vietnam and foreign organisations permitted to operate in Vietnam under Vietnamese law. Buyers do not need permanent residence or a separate work permit; they only need to have entered the country lawfully under any visa type recognised by law.
Casa Luna Phu My Hung is developed by Phu My Hung Development Corporation, a company with more than 30 years’ experience developing model urban areas in southern Saigon and a consistent record of ensuring transparent legal status in every development. The development is located on plot CN8-2, fronting Ton Dat Tien Street, District 7, Ho Chi Minh City; its groundbreaking ceremony was held on 06/03/2026, official sales are expected to launch in Q3 2026, and handover is scheduled for 07/2028.
Casa Luna’s eligibility for foreign ownership demonstrates the consistent legal transparency that Phu My Hung has always maintained. Before Casa Luna, Phu My Hung developments such as The Regency, The Sculptura and Triton Crown also attracted substantial international communities, affirming the position of the Phu My Hung ecosystem as a preferred destination for global professionals and investors living in Ho Chi Minh City.
More importantly, the information that foreign nationals are permitted to buy at Casa Luna is not merely a yes-or-no confirmation. To ensure that the transaction proceeds smoothly and remains legally sustainable over time, foreign investors need to understand the next 2 issues: the specific conditions for being considered eligible to buy and the maximum number of apartments they are permitted to own within this development.
What Are the Legal Conditions for Foreign Nationals to Own a Casa Luna Apartment?
The legal conditions for foreign nationals to own a Casa Luna apartment comprise 3 main groups under the 2023 Law on Housing: conditions relating to the buyer’s status, whether an individual or organisation; conditions relating to the development, meaning that Casa Luna must meet the requirements for commercial housing approved for sale to foreign nationals; and conditions relating to the quantity quota, which must not exceed 30% of the total number of units in the building.
To complete the purchase procedure for a Casa Luna Sky Villa, foreign investors must pass 2 important checks: first, confirmation that they meet the buyer eligibility criteria; and second, preparation of the complete legal documentation in accordance with regulations. The detailed analysis below helps buyers understand the process at an early stage.
View Casa Luna’s legal information: https://phumyhungcenter.com/du-an/casa-luna-phu-my-hung/phap-ly-2/
What Criteria Must Foreign Nationals Meet to Be Permitted to Buy at Casa Luna?
There are 4 main groups of criteria that foreign nationals must meet to be permitted to buy at Casa Luna under the 2023 Law on Housing: valid entry status, not being an excluded person, the type of property permitted for ownership, and the apartment quota within the development.
Let’s explore each criterion through the summary table below. The table presents each condition in detail, the specific legal requirements and how they apply in practice to the Casa Luna Phu My Hung development, enabling buyers to check their eligibility:
| Criteria | Legal requirement | Application at Casa Luna |
| Entry status | A valid passport and lawful entry into Vietnam | No permanent residence or specific work permit required |
| Not an excluded category | Not entitled to diplomatic privileges or immunities and not subject to deportation | Under Article 8 of the 2023 Housing Law |
| Type of property | Foreigners may only own apartments in commercial housing projects; they may not purchase land plots or individual houses | Casa Luna is a Sky Villa apartment and falls within the permitted category |
| Quantity limit | The total number of units owned by foreigners must not exceed 30% of the total number of units in the building | A maximum of 14 of the 49 Sky Villa units at Casa Luna |
| Purpose of use | For residential use or rental; not for national defence or security purposes | Suitable for all ordinary residential and investment needs |
| Transaction method | Purchase directly from the developer or transfer of the contract through the secondary market | Phú Mỹ Hưng is the official and reputable distributor |
In addition to the criteria above, another particularly notable point is that foreigners who own a Casa Luna unit will be issued a Certificate of House Ownership (pink book) clearly stating a 50-year ownership term. This differs from Vietnamese citizens, who are issued pink books with long-term ownership and no stated term. However, a pink book with a 50-year term remains a fully valid legal asset, eligible to be used as collateral for bank loans and for carrying out lawful property transactions throughout the ownership period.
More importantly, drawing on decades of experience serving the international community, Phú Mỹ Hưng has established a specialised legal support process for foreign investors, including bilingual legal advice, assistance with completing documentation and connections with partner banks experienced in serving international clients in Vietnam.
What Legal Documents Must Foreigners Prepare When Purchasing a Casa Luna Apartment?
There are 5 groups of legal documents that foreigners must prepare when purchasing a Casa Luna apartment: personal documents, marital and family documents, financial documents, notarisation and translation documents, and project-related documents. Preparing everything fully and correctly in advance will significantly shorten the time required to sign the sale contract and prevent errors during notarisation.
Below is a detailed list of the documents that foreigners must submit when purchasing a Sky Villa at Casa Luna Phú Mỹ Hưng, organised by group:
Group 1: Personal documents
- The original valid passport (recommended to be valid for at least 6 months from the transaction date)
- A valid entry visa or confirmation of lawful entry from the Vietnamese immigration authorities
- A portrait photograph in the required format (if requested by the Notary Office)
Group 2: Marital and family documents
- Marriage certificate (if married) or a certificate of single status issued by the competent authority in the place of residence
- All documents in this group must be consularly legalised (under the Apostille Convention or through the Vietnamese Embassy in the country of residence) and translated into Vietnamese
Group 3: Financial documents
- Bank statements or proof of income demonstrating financial capacity
- Valid international remittance documents if payment is made from a foreign bank account transferred to Vietnam
Group 4: Notarisation and translation
- All documents in foreign languages must be consularly legalised in accordance with the applicable regulations
- Translated into Vietnamese by a translation service provider recognised by the state authorities
- The translations notarised at a State Notary Office or an authorised Notary Office
Group 5: Casa Luna project-related documents
- The deposit contract or sale contract for the Casa Luna Sky Villa apartment
- A written confirmation that the apartment remains within the foreign ownership quota (provided by the developer, Phú Mỹ Hưng)
- The notice confirming the Casa Luna project’s eligibility to sell housing under construction, issued by the Ho Chi Minh City Department of Construction
In addition to the documents listed above, Phú Mỹ Hưng’s official real estate sales centre always assigns bilingual advisers to guide foreigners through each step of the process, from checking documents and arranging notarisation and translation services to liaising directly with partner banks, ensuring that transactions comply with the law and proceed on schedule.
What Is the 30% Foreign Ownership Quota for Apartments at Casa Luna?
The 30% quota is a mandatory legal requirement under Article 76 of the 2023 Housing Law, under which the total number of apartments owned by foreigners in a building must not exceed 30% of the building’s total number of apartments. This is a specific condition applicable only to foreigners, not Vietnamese citizens, and is one of the factors creating the distinctive scarcity of the foreign ownership segment at the Casa Luna Phú Mỹ Hưng project.
The 30% quota principle stems from the Vietnamese Government’s policy direction to control the proportion of property owned by foreigners, safeguard national security and maintain a healthy development environment for the domestic housing market. Although restrictive in nature, this regulation inadvertently creates scarcity and exclusivity for foreign investors fortunate enough to fall within the approved quota, particularly in a project with only 49 units such as Casa Luna.
How Is the 30% Foreign Ownership Quota at Casa Luna Calculated Specifically?
The 30% foreign ownership quota at Casa Luna is calculated using a simple formula: 30% multiplied by the project’s total number of apartments equals the maximum number of units that foreigners may own. With a total of 49 distinctive Sky Villa units, the specific figure is 14.7 units, rounded down to 14 units reserved for international investors in accordance with the practice commonly applied by developers in Vietnam.
The table below summarises all the figures used to calculate the foreign ownership quota and the quota control mechanism actually applied at the Casa Luna Phú Mỹ Hưng project, helping investors understand the precise figures and when eligibility is determined:
| Specification | Specific figure | Legal notes |
| Total number of Casa Luna Sky Villa units | 49 units | The entire project comprises a single tower |
| Maximum foreign ownership quota | 30% | Under Article 76 of the 2023 Housing Law |
| Maximum number of units foreigners may purchase | 14 units | 30% x 49 = 14.7 => rounded down to 14 |
| Number of units prioritised for Vietnamese citizens | 35 units | 49 – 14 = 35 units |
| Entity determining the quota | Calculated per building | Casa Luna has one tower, so the quota is calculated directly on the 49 units |
| Timing of the quota calculation | At the time the sale and purchase contract is signed | Not calculated from the time the deposit is placed |
| Body controlling the quota | Phu My Hung Development Corporation, in coordination with the competent authorities | In accordance with the regulations of the Ho Chi Minh City Department of Construction |
One important technical point to understand is that the 30% quota is calculated per building, not across the entire project cluster where there are multiple towers. At Casa Luna, as the project comprises a single tower with 49 Sky Villas, the entire quota of 14 foreign-owned units is allocated within these 49 units and is not dispersed to any other building.
In particular, the 14 Casa Luna Sky Villas available to foreign buyers represent an extremely limited number, given the ever-growing community of international professionals and entrepreneurs in the Phú Mỹ Hưng area. Property experts believe that Casa Luna’s 14 foreign ownership slots could be filled during the early deposit phase or at the official launch in Quarter 3/2026, especially as the anticipated price of VND 190 million to VND 220 million per m2 truly reflects the legacy-asset stature the project aspires to.
Once the 30% Foreign Ownership Quota at Casa Luna Is Filled, Do Foreign Buyers Still Have a Chance to Own a Unit?
Yes, foreign buyers can still acquire a Casa Luna property even once the 30% quota has been filled, through three practical options: purchasing on the resale market when another foreign owner transfers their unit, registering on the waiting list at Phú Mỹ Hưng’s official sales centre, or considering ownership through a related Vietnamese legal entity.
Furthermore, it is important to understand how the quota operates in practice: when a foreign owner transfers a Casa Luna apartment to another foreign buyer, that unit remains within the total of 14 foreign quota units and does not alter the project’s quota figure. The buyer simply becomes the new owner within the same quota slot, without requiring an additional slot from the authorities. This creates a flexible and stable transaction mechanism for the Casa Luna Sky Villa resale market over the long term, safeguarding liquidity for international investors’ assets.
In addition, some international investors choose to establish a Vietnamese enterprise with a capital contribution ratio permitted by law and hold the property under the name of that legal entity. However, this option requires specialist legal advice to ensure full compliance with the Law on Enterprises 2020 and the Law on Investment 2020, avoiding risks that may arise during subsequent operation and transfer of the asset.
How Do the Ownership Rights of Foreign and Vietnamese Buyers at Casa Luna Differ?
Vietnamese buyers own Casa Luna in perpetuity and hold an absolute advantage in terms of tenure as well as unlimited inheritance rights, while foreign buyers hold 50-year ownership (renewable) yet are granted full rights to exploit the asset, including leasing, mortgaging and transferring it throughout that term. This is a fundamental antonymic distinction: perpetual ownership versus time-limited ownership, but in practical short- and medium-term use, the benefits enjoyed by both groups are broadly equivalent.
In practice, however, the needs of foreign professionals and investors in Phú Mỹ Hưng are typically linked to long-term residence or rental exploitation over 10 to 20 years, which sits entirely comfortably within the 50-year term permitted by law and does not diminish the asset’s real value during the period of use.
Can Foreigners Extend Their Ownership of a Casa Luna Sky Villa After 50 Years?
Yes, foreign owners of a Casa Luna Sky Villa are entitled to apply for an extension once the initial 50-year term expires, under the provisions of the Housing Law 2023. The renewal process requires the owner to submit an application at least 3 months before the Certificate expires, accompanied by documents proving that their legal status remains valid and that they still need to use the property. The subsequent extension period is also 50 years, provided the competent authority approves and the project remains consistent with the urban planning in place at the time of application. Approval is conditional on the owner retaining valid legal status as prescribed by law and there being no disputes relating to the property.
Are Foreign Investors Who Own Casa Luna Permitted to Lease and Resell?
Yes, foreign investors who own a Casa Luna property are permitted to lease, mortgage and transfer the apartment throughout their lawful period of ownership, in accordance with the Housing Law 2023 and the Law on Real Estate Business 2023. Specifically, foreign owners are free to lease the apartment to generate income without a special licence, may mortgage it at banks permitted to operate in Vietnam in order to borrow capital, and may transfer it to Vietnamese nationals or other foreign buyers. Where the transfer is to a foreigner, a mandatory condition is that the total number of foreign owners in the project following the transaction must still not exceed the 30% quota.
If you are interested in Phú Mỹ Hưng projects, please contact Phú Mỹ Hưng Center for accurate advice and the latest information. Experienced consultant Kim Thùy is always ready to help you choose a project suited to your residential or investment needs, while providing comprehensive information on prices, floor plans, sales policies and legal matters.
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